sb, for now I'll just go by what EWC said in their announcement. If they want to do it in 28 days, then that's their plan and I assume they stick to it until something else comes up. However, as far as the official process goes, 60 days is correct. According to regulatory guide 59, RG 59.44 we learn that
"Without relief, an offeror has to make a bid before the end of 2 months after the day on which the announcement was made".
For those interested, Newsat has based the complaint to the takeover panel on section 631 paragraph 2 of the Corporations Act which can be found here:
